Supreme Industries sees decline in earnings
Mar 1, 2003 12:00 PM
Supreme Industries Inc, manufacturer of specialized vehicles including truck bodies and shuttle buses, announced financial results for the third quarter and nine months ended Sept 28, 2002.
Revenues for 2002's third quarter were $51.0 million compared with $53.9 million for third-quarter 2001 — a decrease of approximately 5%. Net income was $425,000 versus last year's $866,000. The earnings decline was primarily attributable to the lower sales volume and secondarily to increased selling as well as general and administrative expenses.
For the first nine months of 2002, revenues fell to $160.3 million from $172.0 million for the same period in 2001. Net income was $3.4 million versus $3.6 million for the first nine months of 2001.
